Rain’s EV Breakthrough: Stock Rises on Graphite Success

Rain Industries Limited shares rose 7.88% to close at ₹114.88 on the NSE on Wednesday, following a key development by its wholly owned subsidiary, Rain Carbon Canada Inc. The subsidiary announced the successful completion of a joint project to produce coated spherical purified graphite (CSPG), a vital material used in lithium-ion battery anodes for electric vehicles (EVs) and energy storage systems.

The project was carried out in collaboration with Green Graphite Technologies Inc. and received partial funding from the Government of Ontario through the Ontario Vehicle Innovation Network (OVIN), which contributed CA$682,000 toward the total project cost of CA$2.05 million.

As part of the initiative, three types of graphite—natural flake graphite, recycled graphite from end-of-life batteries, and gigafactory production scrap—were processed into CSPG at a pilot scale. The material was subsequently tested for EV battery applications, and a techno-economic model of the process was validated, marking an important step toward commercial-scale production.

News by Rahul Yelligetti.